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MeneameRepresentatives of Chile's steel sector are talking to the government about the possibility of applying safeguards on imports to protect the local industry, Santiago daily El Mercurio reported, citing the CEO of Gerdau Aza, Hermann von Muhlenbrock.
Von Muhlenbrock repeated steel sector fears that if the US imposes restrictions on steel imports under the Section 201 probe currently underway, some 36Mtpy of foreign steel sold in the US would be seeking new markets.
He said talks are talking place with officials from the Economy and Interior Ministries about safeguards, which are temporary additional duties.
Gerdau Aza, a subsidiary of Brazilian long products steelmaker Gerdau, and Chile's CAP have in the past had requests for anti-dumping measures to be imposed on imported steel turned down by market regulators. The two companies, Chile's major steel producers, are particularly unhappy about Turkish steel imports.
The Washington-based International Trade Commission is due to rule October 22 whether imports have damaged the US steel sector under the Section 201 probe ordered by President George W. Bush. The ITC will then make a recommendation to Bush, who will have to decide early next year whether to act.
US steel sector sources say even if the ITC rules against importers, it is highly unlikely steel imports would be banned altogether.
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